Amarin Corporation(AMRN) - 2024 Q4 - Annual Results

Financial Performance - Total revenues for Q4 2024 were $62.3 million, a decrease of 17% compared to $74.7 million in Q4 2023[8] - Operating expenses for Q4 2024 were $43.0 million, down 18% from $49.7 million in Q4 2023[8] - The company reported a net loss of $48.6 million for Q4 2024, compared to a net loss of $5.8 million in Q4 2023[11] - Adjusted net loss for Q4 2024 was $8.7 million, compared to an adjusted net loss of $0.9 million in Q4 2023[12] - Non-GAAP adjusted net loss for Q4 2024 was $8.744 million, compared to a loss of $0.906 million in Q4 2023[36] - Product revenue for the year ended December 31, 2024, was $204.590 million, a decrease of 28.3% from $285.299 million in 2023[34] - Gross margin for the year ended December 31, 2024, was $81.382 million, down from $165.541 million in 2023[34] - Net loss for the year ended December 31, 2024, was $82.183 million, compared to a loss of $59.112 million in 2023[34] - Operating loss for Q4 2024 was $52.522 million, compared to a loss of $4.837 million in Q4 2023[34] Cash Position and Assets - The company ended 2024 with a cash position of $294.2 million, an 8% decrease from $320.7 million at the end of 2023[8] - Cash and cash equivalents decreased to $121.038 million as of December 31, 2024, from $199.252 million a year earlier[32] - Total assets as of December 31, 2024, were $685.349 million, down from $831.684 million in 2023[32] - Total stockholders' equity decreased to $486.176 million as of December 31, 2024, from $552.097 million in 2023[32] Revenue Breakdown - U.S. net product revenue for Q4 2024 was $44.2 million, compared to $64.9 million in Q4 2023, reflecting a significant decline[14] - European net product revenue increased to $4.0 million in Q4 2024 from $1.5 million in Q4 2023, showing growth in that market[14] - Total revenue for Q4 2024 was $62.306 million, down 16.5% from $74.713 million in Q4 2023[34] Strategic Plans - The company plans to implement a 1-for-20 ADS ratio change to maintain its Nasdaq listing, effective around April 11, 2025[4] - The VASCEPA/VAZKEPA franchise is expanding into six additional global markets, including Italy, China, and Australia[3] - The company aims to capitalize on the significant opportunity in Europe, targeting over 5 million high-risk patients with established cardiovascular disease[15] - The company plans to expand access and reimbursement for VAZKEPA across global markets, with expectations for strategic collaborations in 2025[27]